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2019-11-11 • Updated
During the last few days, NZD/USD has been recovering from the broad-based weakness seen in the week, now consolidating gains slightly above the 50 SMA at H1 chart. As the pair already found resistance in the Fibonacci level of 50% at 0.6974, we could expect another leg higher towards the 61.8% Fibo zone at 0.6992, where the 200 SMA is located. If Kiwi touches such area, then we can expect a drop to test the 0.6841 level, where lies the Fibonacci level of -23.6%.
RSI indicator stays in the neutral territory.
Global stocks barely budged on Friday as investors tightened positions with less than two weeks to go before the U.S. presidential election and awaited a breakthrough in stimulus talks in Washington.
Differences continue to narrow in US stimulus talks but more work needs to be done. Pelosi and Mnuchin will speak again today, according to her aide.
The GBP made strong moves against the US dollar and the EUR lately. What's the tactical outlook?
GBP/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
The USD is trading at its 7-week low, and it looks like it will continue falling further. Why?
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